The global market for Welding Machinery is projected to reach US$24.4 billion by 2022, driven by the growth in infrastructure development projects in emerging economies especially in the energy and transportation sectors.
Welding is a technique or process of joining together metals and materials for achieving high-strength, permanent fusions, efficiently and economically. Welding provides greater product strength and is more cost effective than soldering and brazing, thereby providing significant product cost benefits to manufacturers in a wide range of industries. Major end-use sectors for welding machinery include construction, automobile, aviation, shipbuilding and energy among others. The market comprises a wide range of products, such as welding machines, filler metals, electrodes, welding wires, drill, and angle grinders. Economic cycles and capital spending in the manufacturing and industrial sectors have a major impact on market prospects. With steel being the primary choice of metal used in various projects including pipeline, construction, and infrastructure projects, demand for welding equipment is also determined by steel manufacturing.
Future prospects, however, remain bright, with the construction, infrastructure, wind power and energy sectors demonstrating positive momentum. The pressing need for upgrades in the aging infrastructure in developed markets; growing population, increasing urbanization and the need for new infrastructure in developing countries bode well for the market's future. Renewed focus on renewable energy is set to drive infrastructure spending in the energy sector, spelling sizable growth for welding equipment. Demand for welding machinery is also expected to be driven by product innovations, advances in manufacturing processes as well as technological improvements. Laser sources, beam delivery and work management are some of the technical areas that are witnessing significant advancements. Growth in the market is also expected to be driven by ongoing shift towards automation in welding away from manual welding.
Asia-Pacific represents the largest market worldwide, supported by infrastructure rehabilitation and maintenance programs. Asia-Pacific also ranks as the fastest growing market with a CAGR of 3.3% through the analysis period, led by growing construction and infrastructure spending to address needs of growing population and rapid urbanization alongside increasing oil consumption and demand for automobiles. Arc welding machinery represents the single largest product market. The most extensively used welding technique, arc welding is used in a wide range of applications and end-use sectors. Gas welding or oxyfuel welding machinery, a once popular welding technique, is losing relevance in production processes making way for arc and plasma welding techniques.
Major players in the market include ACRO Automation Systems Inc., ARCON Welding LLC, Bernard, Carl Cloos Schweisstechnik GmbH, Coherent Inc., Daihen Corporation, Denyo Co. Ltd., ESAB, Fronius International GmbH, Hobart Brothers Company, IDEAL-Werk, IGM Robotersysteme AG, Illinois Tool Works Inc., Kemppi, Kiefel GmbH, Kobe Steel Ltd., KUKA AG, Manufacturing Technology Inc., Miller Electric Mfg. Co., Panasonic Corporation, Sonics & Materials Inc., The Lincoln Electric Company, Tianjin Golden Bridge Welding Materials Group and voestalpine Bohler Welding GmbH among others.